Of course not. VCs are in the business of inflating bubbles. That's how they make money. Andreessen has every reason to claim that we are not seeing a bubble situation here.

But to pull Tencent out of your ass and compare it to Snapchat? There is no basis on planet Earth for the comparison. None. You're just tossing out random names at that point. Tencent is literally as old as Google is. They had $7B USD in revenue last year. They have 21 thousand employees. They run the China equivalent of PayPal. Their messaging service, QQ, has 798 million accounts and has seen peak usage of 176 million users at a single time. It is here that I remind you that the entire population of the US is only 313 million. Mathematically speaking, Snapchat doesn't stand a chance. No one "plans" to become Tencent. No one. I don't care how good the prospects are for Snapchat. You tell me you want to become Tencent and all you have is a sexting app? That's when I laugh at you. Then I pull up the App Store and flip through all your competitors. Then I remind you that your entire value is derived from fickle teenagers, that won't be there a year from today.

$100B my goddamn ass.